September 30, 2021
I've long argued China is a paper tiger. Well...
$385 B of China's Belt and Road Lending Left Undisclosed: Report
Any command economy will have staggering debt, and China, who is in a bid for world hegemony, is guaranteed to wind up with massive debt. They are trying to bump the U.S. from the perch as economic world leader, but to do that they must go up to their eyeballs in hock. They can't rely on unleashing their national economic power because in the end it's all artificial, something they created by monetary manipulation and leveraging and the help of western countries who have purposely hamstrung their own economies to help China and the rest of the world catch up. (The Paris Accords are one example of this hamstringing.) In the end China is a paper tiger, and will fall from internal inconsistencies much as the Soviet Union did. And, as their economy is so closely tied to the U.S., they will go down when we go down.
China dare not show her weakness. Should this debt become known to investors they would rethink investment in China and Chinese companies.
Posted by: Bill H at September 30, 2021 12:34 PM (/sW5m)
And you're right; we're going to blow more on Biden's Depends next month than that.
Posted by: Timothy Birdnow at September 30, 2021 08:28 PM (+WEJY)
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